What Does the Research Design Specify

question 160

Multiple Choice

What does the research design specify?

• A) the information that will be found
• B) follow-up procedures for the research
• C) the research questions to be answered using primary data
• D) how the information gathered will be used to predict external environmental changes

---

Definitions:

Economic Problem

The fundamental challenge of efficiently allocating limited resources to satisfy unlimited wants and needs.

Limited Resources

The finite availability of resources, such as land, labor, and capital, which can restrict economic growth and development.

Unlimited Wants

The economic concept that humans have an endless number of desires for goods and services, even if resources for fulfilling those desires are limited.

Entrepreneurship

The act of starting and managing a business venture, along with any of its risks, in order to make a profit and innovate in the market.